Kenyan shilling steady as tourism FX inflows match demand

NAIROBI: The Kenyan shilling was steady on Monday as dollar supplies from the tourism sector matched local demand from manufacturers and oil marketers, traders said.

The shilling traded against the dollar at 129.50/130.00 at 0838 GMT, the same as Friday’s closing rate.

Kenyan shilling weakens due to increased FX demand from manufacturers

“I expect activity to slow down as people go into the festive season,” one trader said. “Between now and the end of the month, I don’t think there’s much to be expected.”